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Italy – Eaton Gate offers €500m for Bplus

By - 19 September 2013

Ficom Leisure, the exclusive strategic and gaming industry advisor, has confirmed its work with UK-based investment firm, Eaton Gate, in the acquisition of 100 per cent of Italian concessionaire, Bplus, for the sum of  €500m. Ficom Leisure is advising the consortium of funds on the Italian gaming market, the opportunity analysis, the government and institutional relations, the selection of a new management team, the coordination of the legal advisory, and the strategic development plan for Bplus.  This plan includes horizontal integration into other gaming segments such as online betting and gaming and land-based betting. On Ficom Leisure’s advice the funds’ submitted an offer of 500 million euros for the acquisition, approximately five times the company’s EBITDA in 2012.

Scott Lanphere, Managing Director of Eaton Gate said “With the specific strategic gaming and igaming industry expertise of Ficom Leisure, we were able to evaluate the opportunity to acquire Bplus and make a competitive bid”.

Christian Tirabassi, Senior Partner at Ficom Leisure stated that he believes “we have developed a strategic plan that could take Bplus from the leading slot machine company to one of the leading integrated land-based and online gaming companies in the Italian market”.

Bplus is the Italian market-leader of slot machines and video-lotteries (VLT’s) with over 90,000 machines.  Eaton Gate, an international investment fund based in Guernsey, is the ring leader for a group that includes two listed private equity funds, one American and one Australian.

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